Bangladesh: Shipbuilding industry awaits govt impetus for export boost

A government plan is afoot to nudge shipbuilding industry through up-scaling design capabilities, upgrading infrastructure and ensuring compliance with international standards so entrepreneurs can tap into European and North American markets.

Commerce Ministry officials have elaborated on the move meant for enabling the non-traditional export industry to substantially supplement Bangladesh’s export earnings.

Although a Tk 20-billion refinancing fund has been set up for the sector, shipyard owners say they have been unable to draw on it because of stringent eligibility conditions.

Bangladesh Bank issued on February 8 a circular extending the refinancing scheme, which aims to promote the development and growth of the seaside shipbuilding industry.

This story was originally published by Hellenic Shipping News. Read the full story at Hellenic Shipping News →